News: Long Island

Island Associates completes five leases totaling 7,780 s/f

Brentwood, NY Island Associates has completed five leases totaling 7,780 s/f.

Island Associates represented the landlord in a lease between Dominos Pizza and the Brent City Shopping Center located at 1825 Brentwood Rd. The tenant is building a new 1,440 s/f carryout and delivery service Domino’s Pizza. The lease agreement is for a base term of 10 years with an aggregate rent to be paid is excess of $450,000 NNN. Domino’s is joining Popeye’s Chicken, Checkers, HRH Health Center, Rite Aid, and other tenants at the 150,000 s/f shopping center.  

Terence McMahon of Island Associates represented the landlord and tenant in a lease for 1,800 s/f for a chiropractor and physical therapy office at 377 Oak St. in Copiague. The lease agreement is for a base term of 10 years with an aggregate rent to be paid in excess of $420,000. The space is under construction.

490 Wheeler Road - Hauppauge, NY

Island Associates completed three leases at 490 Wheeler Rd. in Hauppauge:

  • Toscani & Pegion Management LLC leased 1,970 s/f of office space. The lease includes a new buildout and is under construction. The tenant will be taking occupancy later this month.
  • Hemwin & Schroon Marketing LLC took 1,470 s/f of office space.  The tenant has already taken occupancy of the space.  
  • Dasktech Inc., a web based IT company, leased 1,100 s/f, and has already taken occupancy.
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.